One Difference Between the Demand for a Private Good and That

question 18

Multiple Choice

One difference between the demand for a private good and that for a public good is that

• A)with a private good, each consumer chooses the quantity she wants to consume but with a public good, each consumer chooses the price she is willing to pay for a fixed quantity.
• B)with a private good, each consumer chooses the quantity she wants to consume but with a public good, everyone consumes the same quantity.
• C)with a private good, each consumer receives different amounts of benefit from consuming the product but with a public good, every consumer realises the same amount of benefit from consuming the product.
• D)the marginal benefit from consuming the last unit of a public good always exceeds the marginal benefit from consuming the last unit of a private good because there are externalities in the consumption of the former.

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Definitions:

Multinational Economy

A global economic system characterized by the interaction and integration of national economies through trade, investment, and technology exchange.

Hofstede's Research

A study of how values in the workplace are influenced by culture, which identified six dimensions of national culture affecting organizational behavior.

Global Organizational Learning

The process through which organizations develop, enhance, and manage knowledge on a global scale, often leading to innovation and improved performance.

Cultural Variables

Elements that differentiate cultures from one another, influencing beliefs, behaviors, and social structures.